Cambridge Analytica Filing For Bankruptcy After Data Scandal

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Internal research at the company past year found that users would not be receptive to a paid version, with findings saying users would perceive this as Facebook being greedy by asking for payment for a service that had previously been free.

The biggest cheer during Zuckerberg's keynote - outside of his announcement that everyone in the building was getting a free Oculus Go - came when the CEO announced it was reopening app reviews that had been paused after the Cambridge Analytica news broke.

Over the past several months, Cambridge Analytica has been the subject of numerous unfounded accusations and, despite the Company's efforts to correct the record, has been vilified for activities that are not only legal, but also widely accepted as a standard component of online advertising in both the political and commercial arenas. Facebook has since announced changes to its policies for collecting and handling user data. The last date for response is May 10.

A broad review of the entire business model is continuing at Facebook, while worldwide politicians call for Zuckerberg to answer questions relating to the circumstances that led Cambridge Analytica to obtain user data from millions of profiles, and allegedly use this information to influence political processes. It has also been reported to have worked in the United Kingdom for Nigel Farage's Leave Europe Union campaign and in India in the Bihar elections in 2010.

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While Facebook has a responsibility to address privacy concerns and other potential sources of harm to its users, CEO Mark Zuckerberg told the F8 audience in his May 1 keynote that "we also have a responsibility to move forward on everything else that our community expects from us, too.to keep building services that help us connect in meaningful new ways as well". The government says that even if non-disclosure pacts were signed between the company and its clients in India, a template of those agreements can still be produced as evidence. It reportedly made a proposal for the 2019 elections as well. The British Information Commissioner's Office is investigating SCL Group (the parent company that is not shutting down) and Cambridge Analytica in civil and criminal probe. Cambridge Analytica said the controversies had driven away virtually all of the company's customers in a statement posted to its website.

Damian Collins, the chair of the U.K. Parliament's media committee, told Sky News that he was "alive to the risk" that the company might try to rebrand itself.

The most recent notice that the government sent to Cambridge Analytica enquired about their data harnessing capabilities. But it's not the only way to run the business. Julian Wheatland is an Emerdata director who is also a director within the SCL network of organizations.Daughters of businessman Robert Mercer, who founded Cambridge Analytica, Jennifer and Rebekah Mercer are directors of Emerdata, the report said.

Just this March, Cambridge Analytica suspended Alexander Nix, its chief executive.

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